Clover Health Investments, Corp. (NASDAQ:CLOV - Get Free Report)'s share price gapped down prior to trading on Tuesday . The stock had previously closed at $3.64, but opened at $3.46. Clover Health Investments shares last traded at $3.52, with a volume of 1,725,372 shares trading hands.
Analysts Set New Price Targets
A number of research analysts recently weighed in on the stock. Canaccord Genuity Group raised their target price on shares of Clover Health Investments from $4.20 to $4.50 and gave the company a "buy" rating in a research report on Monday, March 3rd. Craig Hallum assumed coverage on shares of Clover Health Investments in a research report on Tuesday, December 17th. They issued a "buy" rating and a $6.00 target price for the company.
Read Our Latest Analysis on Clover Health Investments
Clover Health Investments Stock Down 0.8 %
The stock has a market cap of $1.82 billion, a price-to-earnings ratio of -18.20 and a beta of 2.00. The business's 50 day simple moving average is $4.08 and its 200 day simple moving average is $3.62.
Insider Buying and Selling at Clover Health Investments
In other news, General Counsel Karen Soares sold 52,500 shares of the firm's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $3.80, for a total transaction of $199,500.00. Following the completion of the sale, the general counsel now owns 1,299,663 shares in the company, valued at approximately $4,938,719.40. This trade represents a 3.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Brady Patrick Priest sold 75,000 shares of the firm's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $3.68, for a total transaction of $276,000.00. Following the sale, the chief executive officer now owns 2,418,151 shares of the company's stock, valued at approximately $8,898,795.68. This represents a 3.01 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 22.28% of the company's stock.
Institutional Trading of Clover Health Investments
A number of hedge funds have recently modified their holdings of the stock. Jefferies Financial Group Inc. acquired a new stake in shares of Clover Health Investments during the 4th quarter worth about $135,000. Mackenzie Financial Corp lifted its stake in shares of Clover Health Investments by 211.3% during the 4th quarter. Mackenzie Financial Corp now owns 78,193 shares of the company's stock worth $246,000 after buying an additional 53,076 shares during the last quarter. Alpine Global Management LLC acquired a new stake in shares of Clover Health Investments during the 4th quarter worth about $226,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Clover Health Investments by 90.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 830,457 shares of the company's stock worth $2,616,000 after acquiring an additional 394,881 shares during the period. Finally, Two Sigma Advisers LP bought a new position in Clover Health Investments during the fourth quarter worth about $78,000. Institutional investors and hedge funds own 19.77% of the company's stock.
About Clover Health Investments
(
Get Free Report)
Clover Health Investments, Corp. provides medicare advantage plans in the United States. It operates through two segments: Insurance and Non-Insurance. It also offers Clover Assistant, a cloud-based software platform, that enables physicians to detect, identify, and manage chronic diseases earlier; and access to data-driven and personalized insights for the patients they treat.
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